The Edge Begins Closings
Curbed heard last week that the first closing—a one-bedroom, one-bathroom with views of the water—had taken place at The Edge, and, sure enough, it was true: We are excited to have reached this milestone and to begin welcoming residents, said Jeffrey Levine, Chairman of Douglaston Development, in a press release on Friday. We’re told that…
Curbed heard last week that the first closing—a one-bedroom, one-bathroom with views of the water—had taken place at The Edge, and, sure enough, it was true: We are excited to have reached this milestone and to begin welcoming residents, said Jeffrey Levine, Chairman of Douglaston Development, in a press release on Friday. We’re told that 30 percent of the building either has contracts signed or contracts out for signature, a little behind their goal to pass the 50 percent mark this summer after previous price cuts. Amenity space should be completed by September.
Walkthrough at the Edge [Brownstoner]
The Edge’s Pool Revealed [Brownstoner]
The Edge Loses Price Cut Virginity [Brownstoner]
See it person – IMHO, it is far less than stunning. I much prefer Northside Piers for its less-is-more philosophy (a rare thing in this neighborhood). That said, I haven’t been in either, and can’t compare amenities, etc.
As this building fills up (another 600+ units?) and more condos come on line, the L train will only get worse (wait ’til Domino and the Greenpoint waterfront start getting built – a few thousand more units there). The J train is not an option here, but maybe someday the water taxi will be (but it will never be a solution for the overcrowding on the L).
From the photos, the Edge looks stunning. But it’s still pretty pricey, and I don’t know if I want to deal with the shoulder to shoulder L-train commute. And frankly I’m a little put-off by their wannabe hipster website. I haven’t decided if it’s worth it.
They have a mock-up of the third tower in their sales office and talk of it as if it’s a certainty that it will go up (no dates set, of course).
I wonder what it closed at. I’m not a huge fan of the exterior or the L train, but any purchase involves some level of compromise and I thought about buying here … the sales staff are quietly pushing the impression that a deal will get done at about 10% under ask.
One issue that keeps popping up in Brownstoner posts: “contracts out for signature” is not the same thing as “signed”; it just means someone is looking over the contract and may or may not bid on the unit. No deposit has been made; no contracts signed.
New developments always have a bunch of contracts out for signature that get returned without bids: People who are interested in thinking about buying, put down $100 to reserve the right (typically lasting for a couple of weeks) to bid exclusively on a unit, while they look over the contract and offering plan and decide whether or not to move forward.
Point is, the number of units at the Edge that have contracts signed — have been locked down, spoken for, and gotten a deposit — is therefore likely well under the 30% indicated in the post.
It sounds as thought they haven’t cut their prices enough.
I don’t remember a third building being part of the plan for this site – thought it was only Northside piers that had one more on the books. But I’m probably misremembering.
“proudly pronounced they were never going to cut their prices”
GULP!
***Bid half off peak comps***
not me
Who are the mofos that are throwing parties in the apartments that overlook the east river state park during the concerts?
Ahh, reminds me of the day Jeff Levine proudly pronounced they were never going to cut their prices.